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Bad for Euroland, worse for Germany: the ECB's record

Bibow, Jörg - 2005

This paper assesses the contribution of the European Central Bank (ECB) to Germany's ongoing economic crisis, a vicious … circle of decline in which the country has become stuck since the early 1990s. It is argued that the ECB continues the … especially the ECB are firmly geared against it. The ECB's monetary policies have been biased against growth and have thus proved …

Persistent link: https://www.econbiz.de/10010266550

EMU-enlargement and the reshaping of decision-making within the ECB Governing Council: a voting-power analysis

Fahrholz, Christian; Mohl, Philipp - 2004

The monetary policy of the European Central Bank (ECB) is the subject matter of this paper. We analyze the prospects … potential effects of altering decision-making procedure within the Governing Council of the ECB on price stability in the … eurozone. The authors compare the impact of three alternative reform scenarios of the ECB Governing Council with the help of a …

Persistent link: https://www.econbiz.de/10010266829

Final report: monetary and fiscal policy

Zukrowska, Katarzyna; Sobczak, Dominik; Marzo, Massimiliano - 2003

This report reflects on recent trends in fiscal and monetary policies at the onset of EU-enlargement. Particularly, the authors focus on necessary adjustment processes for future EU-members. How to smooth best the transition period between normal EU-accession and eventual participation in the...

Persistent link: https://www.econbiz.de/10010266838

Inflation and inflation uncertainty in the euro area

Caporale, Guglielmo Maria; Onorante, Luca; Paesani, Paolo - 2009

reversed, and that in the euro period the Friedman-Ball link is empirically supported, implying that the ECB can achieve lower …

Persistent link: https://www.econbiz.de/10010271133

The importance of being vigilant: has ECB communication influenced Euro area inflation expectations?

Jansen, David-Jan; de Haan, Jakob - 2007

Using daily data on inflation-indexed bonds, we find evidence of a negative relationship between ECB communication … start of a tightening of ECB monetary policy was increasingly likely. This suggests that communication should be closely in …

Persistent link: https://www.econbiz.de/10010274042

Does central bank communication really lead to better forecasts of policy decisions? : new evidence based on a Taylor rule model for the ECB

Sturm, Jan-Egbert; de Haan, Jakob - 2009

central bank actions. We examine whether communication by the European Central Bank (ECB) adds information compared to the … ECB communication that are all based on the ECB President's introductory statement at the press conference following an … ECB policy meeting. Our results suggest that even though the indicators are sometimes quite different from one another …

Persistent link: https://www.econbiz.de/10010274048

Assessing the impact of the ECB's monetary policy on the stock markets: a sectoral view

Kholodilin, Konstantin Arkadievich; Montagnoli, Alberto; … - 2008

This paper analyzes the response of the European stock markets to the monetary policy shocks by the European Central Bank using the heteroskedasticity based approach of Rigobon (2003). We find that monetary policy tightening has a heterogeneous impact on the Euro Area sectors on the day the...

Persistent link: https://www.econbiz.de/10010274373

The tress of having a single monetary policy in Europe

Sturm, Jan-Egbert; Wollmershäuser, Timo - 2008

show that it depends upon the underlying country weighting scheme in the monetary decision process of the ECB whether or …. Finally, we produce an estimate of the actual policy weights the ECB has implicitly attached to each of the member countries …. Developments in small member countries have received more than proportional weights in actual monetary policy decisions of the ECB. …

Persistent link: https://www.econbiz.de/10010277748

Ending Uncertainty: Recapitalisation of Banks Supervised by the SSM

Merler, Silvia; Wolff, Guntram B. - In: Credit and Capital Markets – Kredit und Kapital 47 (2014) 2, pp. 241-264

The European financial system is plagued at present by two major sources of uncertainty. First, there is still mistrust over the quality of banks" balance sheets. Second, major uncertainty remains about the rules that will apply to bank recapitalisation, bank restructuring and bank resolution in...

Persistent link: https://www.econbiz.de/10014523270

Measuring the Short-Term Effects of the ECB's Unconventional Monetary Policy on Financial Markets: A Review

Kampl, Lisa-Maria - In: Credit and Capital Markets – Kredit und Kapital 54 (2021) 1, pp. 37-77

Following the financial crisis in 2008, the ECB implemented various unconventional policy measures to respond to the … effects of the ECB's unconventional measures. In this context, the analysis provides insight into the process of determining …

Persistent link: https://www.econbiz.de/10014524520